Back to top

Image: Bigstock

NextEra Energy (NEE) to Report Q3 Earnings: What's in Store?

Read MoreHide Full Article

NextEra Energy, Inc. (NEE - Free Report) is scheduled to release third-quarter 2021 results on Oct 20, before the market opens. This utility delivered an earnings surprise of 5.97% in the last reported quarter.

Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.

Factors to Note

NextEra Energy’s third-quarter performance will likely reflect the benefits from an improvement in Florida’s economic conditions after the rollout of vaccines. Its consistent investment in technology, which has been improving reliability but keeping utility bills lower than the national average, is likely to have added more customers to its Florida Power and Light unit as well as positively impacted demand in the third quarter.

NextEra Energy completed the SolarTogether program in the second quarter, which added new solar plants to its generation portfolio. This is likely to have had a positive impact on its third-quarter performance.

Expectations

The Zacks Consensus Estimate for third-quarter earnings and revenues is pegged at 72 cents per share and $5.73 billion, respectively. The projected revenues and earnings indicate an improvement of 7.5% and 19.7%, respectively, from the year-ago reported figures.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for NextEra Energy this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates.

NextEra Energy, Inc. Price and EPS Surprise

NextEra Energy, Inc. Price and EPS Surprise

NextEra Energy, Inc. price-eps-surprise | NextEra Energy, Inc. Quote


Earnings ESP: The company’s Earnings ESP is -0.84%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, NextEra Energy carries a Zacks Rank #3.

You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Investors can consider the following players from the same industry that have the right combination of elements to beat on earnings this reporting cycle.

AVANGRID Inc. (AGR - Free Report) is set to release third-quarter 2021 results on Oct 26. It has an Earnings ESP of +8.55% and a Zacks Rank #3.

Edison International (EIX - Free Report) is set to release third-quarter 2021 results on Nov 2. It has an Earnings ESP of +0.4% and a Zacks Rank of 3.

Southern Company (SO - Free Report) is set to release third-quarter 2021 results on Nov 4. It has an Earnings ESP of +1.65% and a Zacks Rank #3.